HPCL is one of the Maharatna Oil & Gas PSUs of India, engaged in refining, production and downstream marketing of petroleum products. In line with the new age initiatives, it is also venturing into green energy domains such as areas of renewable energy, EV charging and green hydrogen etc. Inspired by Govt. of India’s flagship ‘Startup India’ program, HPCL launched its startup initiative ‘HP Udgam’ to support early-stage startups and help them reach towards commercialization stage. Through ‘HP Udgam’, HPCL has supported 33 startups either through equity funding or providing pilot project opportunities to establish proof of concept (PoC). A few of the noteworthy investments are leading Emobility startup Magenta Mobility, popular women hygiene brand ‘Sanfe’ etc.

Startup Investment Stage

Revenue (Startup with MVP, Early Adopter/customers & Revenue), Ideation (Idea-stage startups), Pre-revenue (Startups Prototyping their Idea with no revenue), Growth (Startup with Customers & Revenue – Mature Stage)

Focus Sector

Energy Tech, Environment Tech, Digital (AI/Blockchain/IoT), Refining Tech, Industry 4.0,

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